Administrators have been appointed to the De Stefano Property Group and certain subsidiaries.
Jim Tucker and Ed Boyle from KPMG’s restructuring practice were appointed joint administrators on 17 December.
Tucker, partner and joint administrator at KPMG, said: “In recent years, the value of the portfolio in relation to the security has fallen such that the appointment of administrators was necessary.”
He added: “We will be working with the asset managers of the properties and the KPMG Real Estate team to improve the rental income across the portfolio so as to maximise its value. We envisage bringing the assets to market in the short to medium term.”
The principal assets are:
The Brooks, 120,000 sq ft shopping centre, Winchester, Hampshire.
Administrators have been appointed to the De Stefano Property Group and certain subsidiaries.
Jim Tucker and Ed Boyle from KPMG’s restructuring practice were appointed joint administrators on 17 December.
Tucker, partner and joint administrator at KPMG, said: “In recent years, the value of the portfolio in relation to the security has fallen such that the appointment of administrators was necessary.”
He added: “We will be working with the asset managers of the properties and the KPMG Real Estate team to improve the rental income across the portfolio so as to maximise its value. We envisage bringing the assets to market in the short to medium term.”
The principal assets are:
The Brooks, 120,000 sq ft shopping centre, Winchester, Hampshire.
Market Place Mews, mixed-use, Henley on Thames, Oxfordshire.
Two-acre site on East Street, Southampton.
Shops and residential above at 54-62 High Street, Bromley, greater London.
10-12, 64-88 Brewery Road, King’s Cross, N7. A fully-let terrace of seven 1970s industrial units, some with some offices.
Angel Walk shopping centre, Tonbridge, Kent.
joanna.bourke@estatesgazette.com
Administrators have been appointed to the De Stefano Property Group and certain subsidiaries.
